Save Article

Iranian Oil Set to Return to Europe Next Month, Say Officials

National Iranian Oil Co. is preparing shipment of at least 1 million barrels of light crude

By

Benoît Faucon

Jan. 22, 2016 6:30 a.m. ET

TEHRAN—Iran is preparing to restart regular crude-oil shipments to the European Union possibly as early as February, Iranian officials said this week, despite a host of barriers to selling its petroleum to the West.

Iran’s state-owned National Iranian Oil Co. is tentatively preparing a shipment of at least 1 million barrels of light crude to a Mediterranean port in the European Union around mid-February, an Iranian official said. It...

RELATED VIDEO

Iran Sanctions End, and Economic Opportunity Flows

With implementation of the Iran nuclear deal, years-long economic sanctions are being lifted. What areas of Iran's economy are likely to be the biggest winners? WSJ's Jason Bellini has #TheShortAnswer. Photo: Getty